OST Energy (OST), a leading investment support and technical advisory for the renewable energy industry, has announced that it has provided engineering consultancy services to 2GW of solar and wind energy in the US. To continue to support its growth in the region and expand OST’s service offering to North American lenders and project developers, the business has transferred Sion Haswell from the UK to head independent engineering operations in the US.

 

As the US solar and wind markets enter to a new phase of growth, following the extension of the investment and production tax credits, there is growing market demand for experienced engineering due diligence providers to support investors in making optimal procurement decisions in line with both US and international best practice, and backing the best projects.

 

Additionally, with the expiration of the first Investment Tax Credits, there is a wider market need for transactional advisory services from a provider with over 10GW of operational solar experience, who can give future investors the confidence to purchase existing assets of suitable quality.

 

Since its US operations began in 2014, OST has supported developers, utilities and IPPs in the financing and development of numerous utility scale and commercial solar PV projects and portfolios, providing a range of services including due diligence, project design, onsite construction management, and structural and electrical design work, in addition to acquisition due diligence and forensic reviews later in the project lifecycle.

 

With his appointment, Sion will help to further expand this specialist service offering, bringing extensive experience in project and transactional risk to the table, which is critical for the US market as it moves towards a maturity that sees renewable generation assets become portfolio investments.

 

Sion has a specialist experience in large solar portfolios – both ground mount and rooftop solar, as well as most recently working on new, innovative, methods of solar deployment.

 

“The US market finds itself in a very interesting place for developers and investors,” said Sion Haswell, Principle Consultant, OST Americas.

 

“The renewal of the Investment and Production Tax Credits has provided certainty for new projects and the build-out of the current project pipeline.

 

“However, with the expiry of the 5-year compliance periods on the original ITC projects, and as first round investors exit some developments, secondary funds or utilities looking to buy solar farms will have to ensure that the quality and performance of assets is in line with expectations.” 

 

“We therefore anticipate a strong interest in transactional due diligence for mature assets in the coming months.” 

 

OST

www.ostenergy.com